CHICAGO, April 11, 2024 /PRNewswire/ — The global SCADA market size is anticipated to grow from USD 11.2 billion in 2024 to USD 16.6 billion by 2029, at a CAGR of 8.3% from 2024 to 2029 according to a new report by MarketsandMarkets™. Surging deployment of AI and IoT across manufacturing industries and increasing smart city projects pertaining to infrastructure and transportation are few of significant factors which drive the growth of SCADA market.
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SCADA Market Report Scope:
|
Report Coverage |
Details |
|
Market Revenue in 2024 |
$ 11.2 billion |
|
Estimated Value by 2029 |
$ 16.6 billion |
|
Growth Rate |
Poised to grow at a CAGR of 8.3% |
|
Market Size Available for |
2020–2029 |
|
Forecast Period |
2024–2029 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Component, Offering, End User and Region |
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Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Key Market Challenge |
Communication protocol incompatibility |
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Key Market Opportunities |
Increasing adoption of SCADA in transportation, smart buildings, and agriculture |
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Key Market Drivers |
Increasing government support for SCADA adoption |
Discrete Manufacturing industry segment to grow at the highest CAGR during the forecast period.
Within the discrete manufacturing landscape, SCADA systems serve as integral tools to uphold production efficiency and meet targeted output objectives. These systems monitor and control the entire production lifecycle, from tracking units in production to managing inventory levels for just-in-time manufacturing practices. Additionally, SCADA systems play a pivotal role in orchestrating industrial automation and robotics while concurrently monitoring processes and ensuring stringent quality control measures. As a result, SCADA offers a robust platform for the development of sophisticated, interconnected, and secure solutions that significantly enhance the efficacy of manufacturing operations. The escalating demand for such advanced SCADA systems is anticipated to be a key driver propelling growth within the SCADA market.
Software segment to grow at the highest CAGR in SCADA market during the forecast period.
At the core of any SCADA infrastructure lies its software, which serves as the foundation for its functionality. This software framework facilitates crucial functions such as trend analysis, diagnostics, and data monitoring, enabling efficient data analysis and communication of system issues to operators to minimize downtime. Key benefits offered by SCADA software include real-time data storage, ongoing system surveillance, alarm validation, and secure management of sensitive information. By empowering operators with streamlined workflows, facilitating rapid decision-making, minimizing errors, pinpointing root causes of issues, and optimizing plant operations, SCADA software plays a pivotal role in enhancing overall operational efficiency and effectiveness.
Remote Terminal Units (RTUs) account for largest market share in 2023.
Remote Terminal Units (RTUs) reign supreme in the SCADA industry due to several factors. Their versatility across industries, cost-effectiveness for remote sites, and focus on data acquisition perfectly align with core SCADA functionalities. Designed for harsh environments, RTUs offer scalability for diverse project needs. While PLCs handle complex control logic within central control rooms, RTUs excel at acquiring data from geographically dispersed locations, making them the most widely used component in SCADA systems.
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Asia Pacific region to grow at the highest CAGR during the forecast period.
Rapid economic development and a rising focus on automation across manufacturing are driving the demand for efficient process control solutions. Key industries like oil & gas, power, and chemicals are experiencing significant growth, further amplifying the need for SCADA systems. Government support for industrial automation and infrastructure development creates a favorable market environment. Technological advancements like IoT and cloud integration unlock even greater potential through enhanced data analysis and remote monitoring. Additionally, a large and growing workforce, coupled with an expanding middle class, fuels the demand for energy and consumer goods, necessitating efficient production processes facilitated by SCADA systems. With the software segment poised for the highest growth due to increasing complexity and the services segment expanding to meet maintenance and security needs, the future of the SCADA market in Asia Pacific is bright.
Key players in the SCADA companies include Rockwell Automation (US), Schneider Electric (France), Emerson Electric Co. (US), Siemens (Germany), and ABB (Switzerland).
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